Small business company tax unchanged; individuals get a cut
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The Australian budget for fiscal 2018-19 was unveiled tonight. There were tax cuts for individuals, which include sole traders and family partnerships, but little new in the way of tax relief for corporations. Corporate entities will have to wait for the government’s existing 10-year tax plan to win parliamentary approval before they see any cuts.
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The new personal tax rates are below. The corporate rates, which are unchanged, can be found here.
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Source: Xero Blog
